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Binance traders send test token (TST) to the moon during live demo

A test token created by the BNB Chain team for a tutorial video unexpectedly became the center of a trading frenzy, reaching a market cap of $11.86 million at the press time. The TST token was originally developed for an instructional walkthrough on the Four.Meme platform , a memecoin launchpad on BNB Chain. However, its name was inadvertently revealed in a single frame of the tutorial video, leading traders to pile in, speculating on its potential value. ???? A tricky situation. A BNB Chain team member just told me this: "We did the step by step video education for launching meme token on https://t.co/74psayTeug platform. In this video, we launched a token named TST as the example. When we posted the education video yesterday,… https://t.co/lD77CaQDCj — CZ ???? BNB (@cz_binance) February 6, 2025 Unintended hype of TST token Binance co-founder Changpeng ‘CZ’ Zhao addressed the situation on X, noting that a BNB Chain team member initially removed the video after realizing the test token had been exposed. However, CZ directed the team to restore the video, making it clear that TST was purely for demonstration purposes and had no official backing from Binance or its team. At the time of CZ’s post, TST’s market cap was just $494,000, a fraction of the speculative heights it later reached. TST/USDT market cap. Source: Four.Meme platform He explicitly cautioned that the token was not an official project and held no inherent value beyond its role in the tutorial, stressing that his statement was not an endorsement but merely an acknowledgment of the situation. TST and the broader speculative trend in crypto The TST token saga serves as a clear example of the speculative frenzy surrounding memecoins, where even a test token with no intended value can experience extreme price swings fueled by hype and FOMO-driven trading. This was similar to the Unicorn Fart Dust (UFD) token, which was intentionally created as a satirical commentary on speculative crypto bubbles. Both instances highlight how memecoins, despite lacking fundamental utility, continue to attract traders eager to capitalize on short-term gains—often exposing them to low liquidity, rug pulls, and sudden price collapses. Featured image via Shutterstock The post Binance traders send test token (TST) to the moon during live demo appeared first on Finbold . BitcoinSistemi

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Deribit to exit Russian market, blames EU sanctions

Cryptocurrency derivatives exchange Deribit is shutting down its services for Russian users to comply with European Union sanctions. The company, headquartered in the Netherlands, announced that it will enforce trading restrictions beginning Feb. 17, with full account closures set for March 29. In a notice posted on Feb. 5, Deribit stated that Russian nationals and residents would no longer be able to access its platform unless they meet specific exceptions. Russian users residing in European Economic Area countries or Switzerland will still be permitted to trade. However, Russian nationals living in non-EEA countries, as well as Russian businesses, are entirely restricted from using the exchange. You might also like: Trump Media files trademarks for Truth.Fi Bitcoin and energy ETFs EU’s sanctions vs Russia The decision follows the EU’s ongoing financial sanctions against Russia. Users impacted by the restrictions will be placed on “reduce-only” mode, allowing them to close existing positions but preventing new trades. Withdrawals will remain available even after the final closure date. NEW: In response to EU sanctions, the Deribit exchange is withdrawing its operations from Russia. pic.twitter.com/afD0poSlYz — Simply Bitcoin (@SimplyBitcoinTV) February 6, 2025 You might also like: DOGE and SHIB mooned after this, Agent A.I. could be next BitcoinSistemi